(a) the percentage of shares of ICICI Bank holds in South Indian Bank and Federal
Bank as on date;
(b) whether the ICICI Bank has decided to sell off these shares;
(c) whether the Government have received some proposals from Indian Banks/Federal Bank
for purchase of ICICI shares; and
(d) if so, the details thereof.
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANANDRAO VITHOBA ADSUL):
(a) and (b) ICICI Bank had sold 2,00,000 shares of Federal Bank Ltd. during August 2003.
Bank has not sold any shares of South Indian Bank in the past one year. As on November 19,
2003 ICICI Bank Ltd. held 20.40% (45,32,400 equity shares) in Federal Bank Ltd. and 11.40%
(40,73,350 equity shares) in South Indian Bank Ltd. According to ICICI Bank these investments
being financial investments, any decision regarding sale/purchase of shares is taken by the
investment Committee/Board of Directors of the bank.
(c) No, Sir.
(d) Does not arise.